- Updated: December 1, 2025
- 5 min read
İş Büyümesi ve Konut Talebi: 2026 Metrolarına Bakış
Skip to content RESOURCES INSIGHTS National Housing Market OutlookBuild-to-RentHomebuildingSingle-Family Rental High-income job losses are cooling housing demand John Macke November 12, 2025 Share Post Key takeaways Most metros are adding jobs more slowly than normal. Charlotte leads in job growth among major metros, while Austin and Denver fall far short of their historically strong pace.High-income sectors are contracting, while Education and Healthcare are expanding faster than normal across most metros.Employment composition matters as much as total growth for local housing market strength. Metros reliant on lower-wage job growth are likely to face softer for-sale demand. National job growth is slowing, but metro trends vary The national labor market is softening, with implications for local housing markets. Most major metros are adding jobs more slowly than normal.We analyzed employment performance by metro and industry, comparing today’s growth to long-term trends since 2010. Red represents job losses, yellow shows slower-than-normal growth, and green represents faster-than-normal growth. High-income job losses will reshape housing demand The job market drives housing demand, but the type of jobs created or lost impacts the type of housing.High-income sectors—Information, Professional Services, and Financial Activities—are shrinking across most major metros. Workers in these industries drive for-sale housing demand more than rental demand. Nationally, high-income sector employment remained flat YOY in August, well below its long-term compound annual growth of +1.6%.The Education and Healthcare sectors account for the bulk of new jobs added in most metros and are growing faster than normal in almost every market.Many of these jobs pay lower wages on average and often generate rental demand more than homebuying activity. Nationally, education and healthcare employment rose +3.3% YOY in August, well above its long-term compound annual growth of +2.1% What’s happening in key metros Philadelphia (+1.8% YOY) and New York (+1.7% YOY) show stronger job growth than their historical trends (+1.1% and +1.6%, respectively).However, this improvement reflects recovery from weak post-Great Financial Crisis baselines rather than genuine outperformance.Charlotte (+2.6% YOY) is a standout performer, maintaining robust job growth supported by Professional Services expansion (+4.5% YOY)—a rare bright spot for for-sale demand.Austin (+0.8% YOY) and Denver (+0.0% YOY) are growing much more slowly than their historically strong employment trends (+3.8% and +2.3%, respectively).Tech and Professional Services jobs are declining in both markets, and even healthcare—which is expanding faster than normal in most metros—shows weak growth here. This reduction in high-paying jobs is weakening demand for both home purchases and rentals.The Bay Area continues to lose jobs across high-income sectors (-0.4% YOY), driving modest overall employment declines. These job losses have slowed compared to a year ago but remain negative YOY.Despite generating substantial spending and wealth, the AI-driven tech boom hasn’t added meaningful employment to the region. What this means for your business Whether you build, invest, or advise in housing markets, these employment shifts will impact your growth opportunities in 2026 and beyond:Homebuilders: Expect fewer qualified buyers. Position products at attainable price points and reconsider location strategies.Rental operators: Prepare for sustained demand from renters employed in healthcare and education.Residential building products: Anticipate margin pressure as affordability challenges push builders toward smaller, cost-efficient designs. 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Learn More About The Author John Macke Research Manager, For Sale Connect with me on LinkedIn John leads JBREC’s Southern California market coverage for the Metro Analysis and Forecast reports, produces the Regional Analysis and Forecast and Homebuilder Analysis and Forecast reports, and assists with coverage of the public homebuilder space.View Bio View Bio Contact Us If you have any questions about our services or if you would like to speak to one of our experts about we can help your business, please contact Client Relations at clientservices@jbrec.com. Want to interview one of our experts? Media professionals seeking expert analysis and authoritative commentary on US housing market trends, policy impacts, and industry developments can email our team for interviews, quotes, and data-driven insights. pr@jbrec.com Building Market Intelligence™ Every week, we deliver analysis to over 40,000 subscribers with our Building Market Intelligence™ newsletter. 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